Dems' fundraising slows down in July

The Democratic National Committee (DNC) raised $6.7 million for July, the lowest monthly amount since President Obama launched his reelection bid in April according to the Associated Press.

The figures included $2.2 million which was raised for the Obama Victory Fund which is an account held by both the DNC and the Obama reelection campaign.

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The DNC and Obama's campaign had raised a combined $86 million for the second quarter of the year, a record haul which outpaced his GOP rivals and the Republican National Committee (RNC).

Reports attributed the slowdown in July's numbers to fewer fundraising events with donors on vacation and the president occupied with the negotiations in Washington over raising the debt ceiling and reducing the deficit.

The DNC reported $20.1 million in the bank.

The Republican National Committee raised $6.1 million during July and holds $7.6 million in the bank.